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$COST's gross margin for 1Q16 rose by 26 basis points to 11.29% from 11.03% in 1Q15. Most of the improvement was derived from impact of gasoline price deflation on net sales. Excluding this impact, gross margin as a percentage of adjusted net sales slid 6 basis points to 10.97% from the previous year quarter.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.